Kingsview Wealth Management LLC Has $4.59 Million Stake in Enbridge Inc. (NYSE:ENB)

Kingsview Wealth Management LLC boosted its position in Enbridge Inc. (NYSE:ENB) (TSE:ENB) by 31.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 108,204 shares of the pipeline company’s stock after purchasing an additional 26,074 shares during the period. Kingsview Wealth Management LLC’s holdings in Enbridge were worth $4,591,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Swiss National Bank lifted its holdings in Enbridge by 3.2% in the third quarter. Swiss National Bank now owns 6,585,231 shares of the pipeline company’s stock valued at $267,935,000 after buying an additional 207,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Enbridge by 70.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,296,374 shares of the pipeline company’s stock valued at $52,648,000 after purchasing an additional 536,818 shares during the period. Duff & Phelps Investment Management Co. raised its holdings in shares of Enbridge by 32.6% during the third quarter. Duff & Phelps Investment Management Co. now owns 1,302,132 shares of the pipeline company’s stock valued at $52,880,000 after purchasing an additional 319,907 shares during the period. Sound Income Strategies LLC raised its holdings in shares of Enbridge by 8.6% during the fourth quarter. Sound Income Strategies LLC now owns 631,820 shares of the pipeline company’s stock valued at $26,808,000 after purchasing an additional 49,800 shares during the period. Finally, Pinnacle Financial Partners Inc raised its holdings in shares of Enbridge by 8.8% during the third quarter. Pinnacle Financial Partners Inc now owns 188,244 shares of the pipeline company’s stock valued at $7,650,000 after purchasing an additional 15,207 shares during the period. Institutional investors and hedge funds own 54.60% of the company’s stock.

Enbridge Trading Up 0.7 %

NYSE:ENB opened at $44.51 on Friday. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.62 and a quick ratio of 0.54. The firm has a 50-day moving average of $43.20 and a 200-day moving average of $41.41. The company has a market cap of $96.96 billion, a PE ratio of 20.61, a PEG ratio of 4.08 and a beta of 0.94. Enbridge Inc. has a one year low of $32.85 and a one year high of $45.78.

Enbridge Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 1st. Stockholders of record on Saturday, February 15th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 6.02%. The ex-dividend date of this dividend is Friday, February 14th. Enbridge’s payout ratio is presently 121.76%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $63.00 price objective (up previously from $59.00) on shares of Enbridge in a report on Wednesday, December 4th. TD Securities assumed coverage on shares of Enbridge in a report on Wednesday, January 15th. They set a “buy” rating on the stock. Wells Fargo & Company upgraded shares of Enbridge from an “underweight” rating to an “equal weight” rating in a report on Wednesday, November 6th. Finally, Morgan Stanley assumed coverage on shares of Enbridge in a report on Friday, October 25th. They set an “equal weight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Enbridge presently has an average rating of “Hold” and a consensus price target of $63.00.

Enbridge Profile

Enbridge Inc, together with its subsidiaries, operates as an energy infrastructure company. The company operates through five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution and Storage, Renewable Power Generation, and Energy Services. The Liquids Pipelines segment operates pipelines and related terminals to transport various grades of crude oil and other liquid hydrocarbons in Canada and the United States.